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Premier Oil plc

12/02/2019 | Press release | Distributed by Public on 12/02/2019 01:09

First Gas from BIG-P, Indonesia

Premier Oil plc

('Premier' or 'the Group')

First Gas from BIG-P, Indonesia

2 December 2019

Premier is pleased to announce that it has achieved First Gas from its operated Bison, Iguana and Gajah Puteri (BIG-P) project in the Natuna Sea Block A offshore Indonesia. The two-year project was delivered on schedule and significantly below budget.

Premier expects BIG-P's recoverable reserves to be in excess of the 93 BCF (gross) estimated at sanction as a result of the successful three-well drilling campaign which encountered additional productive sands.

BIG-P production ties into the existing Natuna Sea Block A infrastructure, also operated by Premier, and supports the Company's long-term gas sales contracts into Singapore.

Tony Durrant, Chief Executive, commented:

'This is further evidence of Premier's ability to execute full cycle projects from exploration through to production. BIG-P increases the deliverability from our operated Natuna Sea Block A enabling us to meet a growing market share within our existing gas contracts.'

Enquiries

Premier Oil plc

Tel: 020 7730 1111

Tony Durrant, Chief Executive

Richard Rose, Finance Director

Camarco

Tel: 020 3757 4983

Billy Clegg

James Crothers

Notes to editors

Premier, with a 28.67 per cent interest, operates Natuna Sea Block A on behalf of Kufpec, Petronas, Pertamina & PTTEP.